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Game developer Krafton set to go public this week

All News 10:41 August 09, 2021

SEOUL, Aug. 9 (Yonhap) -- Video game developer Krafton Inc. is slated to debut on the country's stock market this week, marking one of the largest initial public offering (IPO) events this year.

The developer behind the global hit "PlayerUnknown's Battlegrounds" (PUBG) will go public on the main bourse Tuesday, with its offering price set at 498,000 won (US$433.99).

In this file photo, a retail investor waits to submit his subscription at Krafton Inc.'s IPO event held at a local brokerage in central Seoul on Aug. 2, 2021. (Yonhap)

The firm is valued at 24.35 trillion won based on the offering price, set to become the No. 1 gaming stock here, dethroning the current top cap NCSOFT, whose value stood at 17.85 trillion won as of Friday closing.

Krafton's listing plan has received mixed forecasts from the market.

Its IPO has drawn lukewarm responses from retail investors, with their deposits for IPO subscriptions at just 5 trillion won (US$4.35 billion).

Two brokerages -- Meritz Securities Co. and KTB Investment & Securities Co. -- offered target prices at 720,000 won and 580,000 won, respectively, for Krafton.

jwc@yna.co.kr
(END)

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